Google has rolled out one extremely helpful service in the form of free, real-time Web statistics--and one expensive yet useful service with Google Analytics Premium.
The Good News: Real-Time Web Analytics
One of the huge drawbacks of Google Analytics when compared with other Web analytics tools was that it only offered credible data from the previous day. There was no real way to track same-day stats or the impact of content shared on social media sites.
If Google has switched the feature on for you, you'll be able to see it by switching over to the new version of Google Analytics by clicking on "New Version" in the top right-hand corner of the page. If it is enabled, you will see it by clicking on your Dashboards tab if you do it now, or your Home tab if you are trying it out next week.Google calls this Real-Time, and it may be the excuse you need to nuke your paid Web analytics solution.
Google has only turned on the feature for select users, so if you don't see it, don't panic. You can sign up for early access here.
Real-Time Analytics allows you to instantly track the efficacy of social media campaigns. By tagging links that you share on Facebook and Twitter with tags related to your marketing campaign, you can track the exact impact of those links. If you need to know how to do that, here's the link.
Google Analytics Premium: Google's Black Card of Web Statistics
When Google called this service "Premium", it wasn't kidding. The service costs $150,000 per year--far out of the reach of most small and midsize businesses (SMB). But it is an extremely robust tool. One feature alone--downloadable unsampled reports--sounds temptingly like it would let you download your own data about your Web properties from Google. The 24-hour live technical support is attractive--especially to the less tech-savvy at larger corporations who may miss out on key data with the current Google Analytics.
Google Analytics Premium may be a no-brainer for high-end advertising agencies tracking campaigns for multiple clients, but keep in mind that they are already employing high-end analytics tools like Omniture and WebTrends. It may be hard for these products to compete with an enterprise-level solution from the search engine with the highest market share. However, Omniture and WebTrends have the added benefit of being legacy solutions embedded with their customers.
It will be interesting to see if Google Analytics Premium becomes the dominant player in this space or if it has to grasp for market share. It all depends if Google Analytics Premium gets the same in-depth and user-friendly features that Omniture and WebTrends have been developing for years.
Sign up for CIO Asia eNewsletters.